Entrepreneurs Lachlan Delchau-Jones, Taylor Reilly skipped university after making $70,000 a month

Young entrepreneurs who started companies when they were still teenagers have revealed how they skipped university and have already raked in $70,000 in a single month.  

Brisbane friends Lachlan Delchau-Jones, 19, and Taylor Reilly, 21, thrived during the pandemic by setting up a business distributing craft and hobby products directly to customers stuck at home in lockdown.

Their business, started from scratch in April 2020, made $70,000 in just 30 days selling paint-by-numbers kits, novelty iPhone cases and puzzles, and they are hoping to surpass that record in the lead-up to Christmas. 

Since then the entrepreneurs, who met through mutual friends with similar interests, have each started up a series of other businesses, ranging from ecommerce to helping charities fundraise on social media.

They have also revealed their tricks to succeeding with Daily Mail Australia – from having the right product to having the mentality for success. 

Mr Delchau-Jones has decided to skip university altogether, already having experience starting up online sales businesses as a teenager.

‘I have been in this line of work since I was in my mid-teens and after leaving high school in 2019 I made the decision university was never going to be for me and I should use my youth to my advantage and pursue my passion full-time,’ he told Daily Mail Australia.

Mr Reilly, who turned 21 in October, was enrolled at Queensland University of Technology studying a dual degree in business and IT but has now ‘permanently deferred’ his studies to be a full-time entrepreneur rather than spending the next two years on campus.

‘I spent two years on my degree and even though some will probably view it as a waste since I left, I view it now almost as the necessary step to figuring out what I wanted to pursue,’ he told Daily Mail Ausrtalia.

‘I have no ill will with universities, for the right people and the right degrees it is the logical pathway. 

‘However I felt that business at university was missing a practical element to it that I could get from other places in my life.’ 

Lachlan Delchau-Jones, 19, has decided to skip university altogether, already having experience started up online sales businesses as a teenager

Mr Reilly, who started making candles to sell at age seven before graduating to building websites in high school, last year set up Charity Exchange, a company which helps charities fundraise via social media. 

He also has an influencer management company that helps clothing brands and advises influencers grow their brand. 

Mr Delchau-Jones has established his own company LDJ Enterprises and is a chief executive officer still in his teens, who is also helping an influencer set up Bathle, which sells bath bombs online.

When it came to succeeding with online sales, he recommended only selling products your friends would buy.

‘A general rule of thumb is, if you wouldn’t use it or you don’t know someone in your immediate friendship group that would, it’s generally not a viable product,’ Mr Delchau-Jones said.

Products also have to have a perceived premium value so there can be a profit margin.

Lachlan Reilly, 21, was enrolled at university but has now decided to defer his university studies to be a full-time entrepreneur

‘Having high perceived value is key too, our game is to see the product at a profit, so the product has to look it,’ he said. 

Mr Reilly said fear of failure was the biggest obstacle to success.

‘The key to making any business successful is having the ability to build discipline and accept that failures will happen,’ he said.

‘A lot of people are deterred from running any form of social media advertising because there are costs involved and they have a fear of losing money.’

Those interested in getting started are advised to be prepared to lose a small amount of money.

‘We actually recommend having a small budget to burn on marketing to test and find valuable insights such as what targeting or message your demographic best responds to,’ Mr Reilly said.

Mr Reilly, who started making candles to sell at age seven before graduating to building websites, last year set up Charity Exchange, a company which helps charities fundraise via social media. He also has an influencer management company that helps clothing brands and advises influencers grow their brand

Getting starting and being passionate were regarded as being essential to success.

‘The hardest part of pursuing a great business idea is taking the first step,’ he said.

‘It’s very easy to create excuses and put an idea or a project off. 

‘Small steps like writing that first business plan, building a prototype or coming up with a name or a logo can be all someone needs to take that step.

 ‘The two biggest tips we can provide to anyone looking to build a really great business is to be deeply passionate about the product or service you’re selling. 

‘The commitment and dedication that comes with being passionate will allow you to drive and push past failures and overcome problems.’

Mr Delchau-Jones has established his own company LDJ Enterprises and is a chief executive officer still in his teens, running offshoots that include Bathle, which sells bath bombs online

The young entrepreneurs are also prepared to seek advice from business leaders double their age, having done a course with financial comparison group Finder’s 40-year-old co-founder Fred Schebesta

The young entrepreneurs are also prepared to seek advice from business leaders double their age, having done a course with financial comparison group Finder’s 40-year-old co-founder Fred Schebesta.

Their mentor made the Australian Financial Review Young Rich List with an estimated worth of $340million.

‘Don’t be afraid to ask for help,’ Mr Delchau-Jones said.

‘Garner the confidence to ask other people for advice and network throughout your industry. 

‘The relationships that you can build over common ground can help you avoid problems before they even become a reality for your business.’